Cattle placements see first gain in months

Placements of cattle into U.S. feedlots were higher in May, the first increase since late last year.

The USDA says those placements were larger than expected, up 5% from May 2022 at 1.955 million head, most of those weighing between 700 and 900 pounds, heading to market between November and February. That year-to-year jump can be tied to increased feeder cattle imports from Canada and Mexico.

Marketings during May were 1.946 million head, 2% higher, while the total number of cattle on feed in the U.S.

…